JMK - I totally get the first part about wanting to support risky work.
The CPA/tax attorney part of me doesn't buy the second part - sure, he's paying less taxes but he's lost real money, so he's at a net negative from the investment even after the tax break.
Sounds like he really wanted to help out by financing risky investments. It really cost him money, so his intentions sound 100% benevolent. The second part sounds like soemthing he'd say because of his probably being a very kind, humble person.